After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only individual voting for you.

Requirement 1:

If Schenkel has 490,000 shares outstanding and the stock currently sells for $39, how much will it cost you to buy a seat if the company uses straight voting? (Do not include the dollar sign ($).)

Requirement 2:

Assume that Schenkel uses cumulative voting and there are three seats in the current election; how much will it cost you to buy a seat now? (Do not include the dollar sign ($).)

Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u.s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.